2/24 Cullis Parade, Bayswater VIC 3153
2/24 Cullis Parade, Bayswater VIC 3153
Compact two-bed unit | Established low-rise pocket | First-home and investor demand | Station-adjacent convenience | Modest private footprint
This unit holds a clear competitive edge for buyers seeking an affordable entry into Bayswater’s established suburban market. Its compact two-bedroom configuration with single bathroom and one car space aligns directly with the area’s typical low-rise strata stock, which tends to attract first-home buyers and investors prioritising low maintenance over space. The property sits within a mixed neighbourhood where older houses on large lots coexist with smaller unit developments, giving it a practical, grounded character rather than a flashy or premium feel. For a buyer wanting proximity to train services, shops, and schools without the density of inner-ring apartments, this unit offers a straightforward, serviceable option that matches the suburb’s everyday living pattern.
The value of this unit may be shaped by several factors that warrant careful consideration. Its likely older construction and basic finish level could limit appeal compared to newer townhouses, though this may also keep the price accessible. The absence of confirmed details around floor level, orientation, or private outdoor space means the actual living experience might vary, potentially affecting how quickly it sells. Nearby redevelopment activity in the broader area suggests some buyers might view this as a stepping-stone property, but its strata status could restrict future expansion or renovation potential. Weighing these elements against the unit’s straightforward functionality and location convenience will help form a realistic view on price.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/24 Cullis Parade, Bayswater VIC 3153
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
1
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Market Insight
Bayswater, 29km east of Melbourne, is an established residential and light-industrial suburb. Demand centres on 30-39 year olds with upper-middle incomes. Houses lead the market: median $928,000, 7.1% annual growth, and sales roughly 26 days on market — 21% faster than nearby Wantirna South. Units lag, with a $567,500 median and a -3.9% quarterly dip. Rents are firm: houses $600 weekly, units $510, with house yields of 3.5-4.2%. The key risk is unit softness; house growth has momentum but rate sensitivity could test affordability.
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PropCred Estimated Value
Comparable Sales: 1/17 Cullis Parade sold May 2024; 17 Cullis Parade valued $803,000 | Property Price Band: $600,000–$700,000 | Value Drivers: Condition, layout efficiency, proximity to station and amenities
Bedrooms
2
Bathroom
1
Parking
1
Land
1013m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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